DOCSLIB.ORG

Challenges Persist for International Taxpayers As the IRS Moves Slowly to Address Their Needs MSP #15

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Challenges Persist for International Taxpayers As the IRS Moves Slowly to Address Their Needs MSP #15 Most Serious Legislative Most Litigated Case Advocacy Appendices Problems Recommendations Issues Challenges Persist for International Taxpayers as the IRS Moves Slowly to Address Their Needs MSP #15 MSP Challenges Persist for International Taxpayers as the IRS Moves #15 Slowly to Address Their Needs RESPONSIBLE OFFICIALS Heather Maloy, Commissioner, Large Business & International Division Peggy Bogadi, Commissioner, Wage and Investment Division DEFINITION OF PROBLEM In recent years, the IRS has devoted substantial resources to improving international tax administration and responding to the challenges of globalization.1 However, the IRS continues to focus on stepped-up enforcement without adequate servicewide coordina- tion, and with no corresponding increase in service to millions of individual international taxpayers.2 The National Taxpayer Advocate’s 2011 Annual Report to Congress identified six serious problems facing these taxpayers in understanding and meeting their federal tax obligations.3 A 2012 IRS research study of international taxpayers shows that this group remains underserved, desires self-service options, and may experience a higher rate of post-filing problems than the general taxpayer population.4 Among those who file, many do not have an adjusted gross income (AGI) high enough to generate a tax liability. About 82 percent of U.S. taxpayers abroad did not have a U.S. liability.5 Others are afraid to file, being uncertain about filing requirements or intimidated by the complexity of U.S. tax laws. Confusion and frustration about U.S. tax requirements, the risk of heavy penalties, and the corre- sponding compliance burden may cause some taxpayers to give up their U.S. citizenship. Expatriations increased more than sixfold between calendar years (CYs) 2008 and 2012.6 While international taxpayers grapple with compliance challenges and inadequate service, the IRS has been slow in taking specific steps to meet their needs and ease their compli- ance burdens, saving enforcement resources to address egregious noncompliance. We 1 See, e.g., IRS, The Budget in Brief, FY 2011; IRS, The Budget in Brief, FY 2010; Pub. L. No. 111-117 (Dec. 16, 2009); Pub. L. No. 112-10 (Apr. 15, 2011). 2 See National Taxpayer Advocate Fiscal Year 2013 Objectives Report to Congress 30, fn. 183 and 184. International taxpayers are broadly defined to include U.S. individuals working, living, or doing business abroad, U.S. entities doing business abroad, foreign individuals working or doing business in the U.S., and foreign entities doing business in the U.S. 3 See National Taxpayer Advocate 2011 Annual Report to Congress 129-272. 4 IRS, Wage and Investment Division (W&I) Research & Analysis, Research Study Report, 2012 Taxpayer Experience of Individuals Living Abroad: Service Awareness, Use, Preferences, and Filing Behaviors (Aug, 2012) (2012 WIRA Research Study). Compared to all tax returns, international individual returns have almost twice the math error rate and are less likely to be filed electronically. Id. at 9. 5 2012 WIRA Research Study 23-24. See also National Taxpayer Advocate 2011 Annual Report to Congress 155-156. 6 IRS, Quarterly Publications of Individuals Who Have Chosen to Expatriate, as Required by Section 6039G, 2008-2011. These publications contain the name of each individual losing U.S. citizenship (within the meaning of IRC §§ 877(a) or 877A). For purposes of these listings, long-term residents, as defined in § 877(e)(2), are treated as if they were U.S. citizens who lost citizenship. The publications do not distinguish between former U.S. citizens and long-term residents. 262 Section One — Most Serious Problems Most Litigated Legislative Most Serious Appendices Case Advocacy Issues Recommendations Problems Challenges Persist for International Taxpayers as the IRS Moves Slowly to Address Their Needs MSP #15 have identified the following problems with the IRS’s approach to improving international Most Serious Problem taxpayer service: ■■ Delays in developing specific recommendations to improve service based on cross- functional team findings; ■■ The lack of a strategic plan to address persistent compliance challenges; ■■ The absence of a timeline to implement recommendations of the 2012 IRS research study; ■■ The insufficient use of modern technology as a more efficient method of delivering services and providing information, including virtual face-to-face (VFTF) assistance and online services; and ■■ The lack of simplified filing and self-correction options for international taxpayers. ANALYSIS OF PROBLEM Background In recent years, globalization has pushed an increasing number of individual taxpayers (in- cluding entrepreneurs and small businesses) to seek economic opportunities abroad. It also has increased competition among tax administration agencies for tax bases and sources of revenue. Both taxpayers and the government can benefit from tax systems that are simple to administer and have high rates of compliance.7 For this reason, 33 countries lowered the tax burden and made compliance easier by introducing or enhancing electronic systems and reducing the frequency of filing or merging or eliminating duplicative reporting.8 In contrast, World Bank studies consistently rank the United States between 65th and 69th in time spent to comply among 183 countries surveyed.9 The complexity of international tax law, combined with the administrative burden placed on international taxpayers, creates an environment where taxpayers who are trying their best to comply simply cannot. For some U.S taxpayers abroad, the requirements are so confusing and the compliance burden so great that they give up their U.S. citi- zenship.10 Overall, nearly 7,000 U.S. citizens renounced citizenship from calendar year (CY) 2005 through third quarter of CY 2012.11 The number of expatriations increased over sixfold from 231 in CY 2008 to about 1,800 in CY 2011, as shown on Figure 1.15.1 7 The World Bank, The International Finance Corporation (IFC), and PricewaterhouseCoopers (PwC), Paying Taxes 2012, The Global Picture 15 (2011). This is the seventh year that the Paying Taxes indicators have been included in Doing Business project run by the World Bank Group. 8 World Bank, IFC, and PwC, Paying Taxes 2012, The Global Picture 15-18 (2012). 9 See The World Bank, IFC, and PwC, Paying Taxes, The Global Picture (2009-2012). 10 National Taxpayer Advocate meeting with the U.S. Ambassador to Switzerland (Feb. 4, 2011). See also Brian Knowlton, More American Expatriates Give Up Citizenship, N.Y. Times, Apr. 25, 2010; Helena Bachmann, Why More U.S. Expatriates Are Turning In Their Passports, Time World, Apr. 20, 2010. 11 IRS, Quarterly Publications of Individuals Who Have Chosen to Expatriate, as Required by Section 6039G, CYs 2005 – 2012 (through third quarter of CY 2012). These publications contain the name of each individual losing U.S, citizenship (within the meaning of IRC §§ 877(a) or 877A). For purposes of these listings, long-term residents, as defined in § 877(e)(2), are treated as if they were U.S. citizens who lost citizenship. The publications do not distinguish between former U.S. citizens and long-term residents. Taxpayer Advocate Service — 2012 Annual Report to Congress — Volume One 263 Most Serious Legislative Most Litigated Case Advocacy Appendices Problems Recommendations Issues Challenges Persist for International Taxpayers as the IRS Moves Slowly to Address Their Needs below. Expatriations dramatically increased after CY 2009, coinciding with increased IRS enforcement of the Foreign Bank Account Report (FBAR) penalty and confusing offshore voluntary disclosure initiatives that appeared overly harsh to taxpayers who inadvertently violated the rules.12 FIGURE 1.15.1, Expatriations in CYs 1998-2011 Expatriations by Calendar Year (1998-2011) 2,000 1,800 1,600 1,400 1,200 1,000 800 EXPATRIATES 600 400 200 0 20112010200920082007200620052004200320022001200019991998 CALENDAR YEAR Profile of International Taxpayers In response to concerns the National Taxpayer Advocate expressed in prior Annual Reports to Congress, and in support of the IRS Multiyear Servicewide Approach to International Tax Administration, Wage and Investment Research & Analysis (WIRA) in 2012 completed a comprehensive study (hereinafter “WIRA Research Study”) of the service needs and filing issues of international individual taxpayers.13 The study found that in comparison to the general filing population, international taxpayers (defined for the purposes of the study as individuals living outside the U.S.) reported lower income, fewer refund returns, and a larger number of zero balance due returns.14 Wage earners, however, reported significantly 12 See Most Serious Problem: The IRS’s Offshore Voluntary Disclosure Programs Discourage Voluntary Compliance by Those Who Inadvertently Failed to Report Foreign Accounts, infra/supra. See also National Taxpayer Advocate Fiscal Year 2013 Objectives Report to Congress 21-31; National Taxpayer Advocate 2011 Annual Report to Congress 171-272. 13 2012 WIRA Research Study 7. The research study included focus groups with tax practitioners who serve international taxpayers, demographic and tax filing profiles of international taxpayers over various tax years, multiple interviews with tax attachés working with taxpayers overseas, interviews with mul- tinational companies based in the U.S. employing U.S. citizens overseas, the 2009 IRS Survey of International Taxpayers, collaboration with custodians of Department of State Passport Data and
Load more

Recommended publications
  • The Offshore Tax Enforcement Dragnet
    Emory Law Journal Volume 67 Issue 4 2018 The Offshore Tax Enforcement Dragnet Shu-Yi Oei Follow this and additional works at: https://scholarlycommons.law.emory.edu/elj Recommended Citation Shu-Yi Oei, The Offshore Tax Enforcement Dragnet, 67 Emory L. J. 655 (2018). Available at: https://scholarlycommons.law.emory.edu/elj/vol67/iss4/1 This Article is brought to you for free and open access by the Journals at Emory Law Scholarly Commons. It has been accepted for inclusion in Emory Law Journal by an authorized editor of Emory Law Scholarly Commons. For more information, please contact [email protected]. OEI GALLEYPROOFS 4/23/2018 12:07 PM THE OFFSHORE TAX ENFORCEMENT DRAGNET Shu-Yi Oei* ABSTRACT Taxpayers who hide assets abroad to evade taxes present a serious enforcement challenge for the United States. In response, the United States has developed a family of initiatives that punish and rehabilitate non-compliant taxpayers, raise revenues, and require widespread reporting of offshore financial information by financial institutions and taxpayers. Yet, while these initiatives help catch willful tax cheats, they have also adversely affected immigrants, Americans living abroad, and “accidental Americans.” This Article critiques the United States’ offshore tax enforcement initiatives, such as the Foreign Account Tax Compliant Act and the Internal Revenue Service’s offshore voluntary disclosure programs. It argues that the United States has been overly focused on two policy priorities in designing enforcement at the expense of competing considerations: First, the United States has attempted to equalize enforcement against taxpayers with solely domestic holdings and those with harder-to-detect offshore holdings by imposing harsher reporting requirements and penalties on the latter.
    [Show full text]
  • Senate Bill 2198, Taxpayer Compliance Improvement Act of 1982
    UNITED STATES GENERAL ACCOUNTING OFFICE - WASHINGTON, D.C. 20548 FOR RELEjhSE ON DELIVERY EXPECTED AT LO:00 &$.[*I. EST MONDAY, MARCH 22, 1982 STATEMENT OF WILLIAM J. ANDERSON, DIRECTOR, GENERAL GOVERNMENTDIVISION , BEFORE THE SUBCOMMITTEE ON OVERSIGHT OF THE INTERNAL REVENUE SERVICE OF THE SENATE COMMITTEE ON FINANCE ON ( S~~NATEBILL 2198, TAXPAYER COMPLIANCE IMPkOVEMENT ACT OF 1982 1 I 117850 Mr. Chairman and Members of the Subcommittee: We are pleased to be here today to assist your Subcommittee in considering the problem of the income tax compliance gap and the need for 5.2198, the Taxpayer Compliance Improvement Act of 1982, to help address this problem. Ourr testimony is based pri- marily on our overall experience gained from conducting audits of tax administration operations and activities over the past several years. We first addressed the issue of unreported income in July 1979 l At that time, we issued a comprehensive report in which we estimated that about 5 million individuals and couples owing about $2 billion in taxes did not file tax returns for tax year 1972, the year for which the most current data was available for analysis. We also estimated that IRS had only been able to secure delinquent returns from about 12 percent of the estimated 5 mil- lion nonfilers. Since July 1979, we have issued numerous reports and provided extensive testimony addressing IRS' &x administra- tion activities and the actions needed to improve IRS' compli- ance enforcement efforts, particularly against, the unreported income problem. We are also presently conducting several reviews of various IRS programs which are directed wholly or partially at addressing the unreported income problem.
    [Show full text]
  • Taxpayer First Act of 2019 R E P O R T Committee On
    1 116TH CONGRESS " ! REPT. 116–39 1st Session HOUSE OF REPRESENTATIVES Part 1 TAXPAYER FIRST ACT OF 2019 R E P O R T OF THE COMMITTEE ON WAYS AND MEANS HOUSE OF REPRESENTATIVES ON H.R. 1957 [Including cost estimate of the Congressional Budget Office] APRIL 9, 2019.—Ordered to be printed VerDate Sep 11 2014 07:28 Apr 16, 2019 Jkt 089006 PO 00000 Frm 00001 Fmt 6012 Sfmt 6012 E:\HR\OC\HR039P1.XXX HR039P1 SSpencer on DSKBBXCHB2PROD with REPORTS E:\Seals\Congress.#13 TAXPAYER FIRST ACT OF 2019 VerDate Sep 11 2014 07:28 Apr 16, 2019 Jkt 089006 PO 00000 Frm 00002 Fmt 6019 Sfmt 6019 E:\HR\OC\HR039P1.XXX HR039P1 SSpencer on DSKBBXCHB2PROD with REPORTS with DSKBBXCHB2PROD on SSpencer 1 116TH CONGRESS " ! REPT. 116–39 1st Session HOUSE OF REPRESENTATIVES Part 1 TAXPAYER FIRST ACT OF 2019 R E P O R T OF THE COMMITTEE ON WAYS AND MEANS HOUSE OF REPRESENTATIVES ON H.R. 1957 [Including cost estimate of the Congressional Budget Office] APRIL 9, 2019.—Ordered to be printed U.S. GOVERNMENT PUBLISHING OFFICE 89–006 WASHINGTON : 2019 VerDate Sep 11 2014 07:28 Apr 16, 2019 Jkt 089006 PO 00000 Frm 00003 Fmt 4012 Sfmt 4012 E:\HR\OC\HR039P1.XXX HR039P1 SSpencer on DSKBBXCHB2PROD with REPORTS E:\Seals\Congress.#13 VerDate Sep 11 2014 07:28 Apr 16, 2019 Jkt 089006 PO 00000 Frm 00004 Fmt 4012 Sfmt 4012 E:\HR\OC\HR039P1.XXX HR039P1 SSpencer on DSKBBXCHB2PROD with REPORTS C O N T E N T S Page I.
    [Show full text]
  • Investors' Reaction to a Reform of Corporate Income Taxation
    Investors' Reaction to a Reform of Corporate Income Taxation Dennis Voeller z (University of Mannheim) Jens M¨uller z (University of Graz) Draft: November 2011 Abstract: This paper investigates the stock market response to the corporate tax reform in Germany of 2008. The reform included a decrease in the statutary corporate income tax rate from 25% to 15% and a considerable reduction of interest taxation at the shareholder level. As a result, it provided for a higher tax benefit of debt. As it comprises changes in corporate taxation as well as the introduction of a final withholding tax on capital income, the German tax reform act of 2008 allows for a joint consideration of investors' reactions on both changes in corporate and personal income taxes. Analyzing company returns around fifteen events in 2006 and 2007 which mark important steps in the legislatory process preceding the passage of the reform, the study provides evidence on whether investors expect a reduction in their respective tax burden. Especially, it considers differences in investors' reactions depending on the financial structure of a company. While no significant average market reactions can be observed, the results suggest positive price reactions of highly levered companies. Keywords: Tax Reform, Corporate Income Tax, Stock Market Reaction JEL Classification: G30, G32, H25, H32 z University of Mannheim, Schloss Ostfl¨ugel,D-68161 Mannheim, Germany, [email protected]. z University of Graz, Universit¨atsstraße15, A-8010 Graz, Austria, [email protected]. 1 Introduction Previous literature provides evidence that companies adjust their capital structure as a response to changes in the tax treatment of different sources of finance.
    [Show full text]
  • How to Achieve Tax Compliance by the Wealthy: a Review of the Literature and Agenda for Policy
    View metadata, citation and similar papers at core.ac.uk brought to you by CORE provided by IRIHS - Institutional Repository at IHS How to Achieve Tax Compliance by the Wealthy: A Review of the Literature and Agenda for Policy Katharina Gangl1 Institute for Advanced Studies (IHS), Competence Centre: Insight Austria, Josefstädter Straße 39, 1080 Vienna, Austria, phone: +43 1599 91-147, e-mail: [email protected] University of Goettingen, Department of Economic and Social Psychology, Institute of Psychology, Göttingen, Germany Benno Torgler Queensland University of Technology, School of Economics and Finance and Centre for Behavioural Economics, Society and Technology (BEST), Brisbane, Australia, e-mail: [email protected] CREMA-Center for Research in Economics, Management and the Arts, Zurich, Switzerland Tax compliance by the wealthy is relevant not only because their contributions are essential to maintain public budgets and social equality, but because their (non)compliance behaviour and the perceived (un)fairness of their contributions can fuel social unrest. In this paper, after giving a brief history of taxing the wealthy, we review the existing theoretical, empirical and policy literature on their tax compliance. We discuss how and why the wealthy differ from less affluent taxpayers because of specific interrelated political, social and psychological conditions. Understanding the psychological mechanisms that determine the tax compliance of the wealthy can provide policy insights on how to better integrate the wealthy in the tax system. Therefore, the present review is also a starting point for new policy approaches to increase tax compliance and tax morale among the wealthy. Keywords: high net worth individuals, tax evasion, income tax.
    [Show full text]
  • Race and Tax Policy: the Case of the Chinese Poll Tax
    Race and Tax Policy: The Case of the Chinese Poll Tax Sue Yong and Rob Vosslamber Abstract The Chinese poll tax was introduced in English-speaking countries, including Australia, Canada, New Zealand, and the United States, during the nineteenth century. Though this tax was justified on social and economic grounds, it is largely a race-based tax as it was targeted at Chinese immigrants. This article provides a historical analysis of the New Zealand and Californian (American) poll tax. It also evaluates the relationship between the poll tax and immigration. Given the widespread Chinese poll tax in these countries, this evaluation has international significance, and demonstrates the central role of taxes in the formation and maintenance of civic identity. It also has contemporary implications given the extensive number of racially diverse immigrants, including the Chinese, who have migrated and are migrating to Western developed nations. I. INTRODUCTION Poll taxes on Chinese immigrants were common in Australia, Canada, New Zealand, and California (America) in the nineteenth and early twentieth centuries. The Chinese were drawn to these countries in large numbers due to the gold rush and the construction of railway lines for Canada and America. Their significant presence in the English-speaking countries aroused hostility in the European population; this hostility eventually translated into discriminatory legislation, an example of which was the poll tax. The poll tax was imposed concurrently with other anti-Chinese legislation to stem Chinese immigration.1 The tax was Senior Lecturer, Accounting Department, Auckland University of Technology, Auckland, New Zealand. Email: [email protected]. (contacting author) Senior Lecturer, Accounting and Information Systems Department, University of Canterbury, Christchurch, New Zealand.
    [Show full text]
  • COVID-19 : Revenue Administration Implications
    1 COVID-19 | WORLD BANK GROUP Public Disclosure Authorized Public Disclosure Authorized COVID-19: REVENUE POTENTIAL TAX ADMINISTRATION AND CUSTOMS MEASURES TO ADMINISTRATION RESPOND TO THE CRISIS. Public Disclosure Authorized IMPLICATIONS Public Disclosure Authorized 2 COVID-19 | WORLD BANK GROUP This note brings together the thinking that is occurring in global and regional teams on governance and institutional approaches to dealing with COVID-19, with a focus on Revenue Administrations. .1 It presents the governance and institutional reforms that could 2 support Revenue administration responses to COVID-19 . The pandemic will bring a new normal where work practices should change. Usually, shocks trigger responses, and one of the responses here could be automatization of tax and customs services over the medium term, and a massive acceleration in the use of digital and virtual technologies. 2 1 This note is a joint effort between MTI and GGP colleagues. The note and its annexes were prepared by a Task Force overseen by Chiara Bronchi, led by Raul Junquera-Varela and comprising Ana Cebreiro Gomez, Anna Custers, Daniel Alvarez, Dialigué Ba, Viet Anh Nguyen, Rajul Awasthi, Roel Dom, Rick Fisher, Paola Arce, Claudia Lucia Vargas Pastor, Alfredo Revilak, and Ivan Krsul, MTI-EMFTX. Contributions and comments received from Jim Brumby (EPSDR), Gael Raballand (EA1G1), Marijn Verhoeven (EMFTX), Mohan Nagarajan (ESAG2), and Oleksii Balabushko (EA1G2). 2 This note and its annexes focus on revenue administration measures only. For a discussion on broader governance issues, please visit https://www.worldbank.org/en/topic/governance/brief/governance-institutions-covid-19-response- resources 3 COVID-19 | WORLD BANK GROUP TABLE OF CONTENTS Current Framework & Fiscal Impact Analysis Phases 01 1.
    [Show full text]
  • Analyzing the Nature of the Income Tax Gap GAO/T-GGD-97-35
    United States General Accounting Office Testimony GAO Before the National Commission on Restructuring the Internal Revenue Service For Release on Delivery TAXPAYER COMPLIANCE Expected at 11:00 a.m. EST Thursday January 9, 1997 Analyzing the Nature of the Income Tax Gap Statement of Lynda D. Willis, Director, Tax Policy and Administration Issues, General Government Division GAO/T-GGD-97-35 Statement Taxpayer Compliance: Analyzing the Nature of the Income Tax Gap Messrs. Chairmen and Members of the Commission: We are pleased to be invited by you to discuss the income tax gap—the difference between income taxes owed and those voluntarily paid. The Internal Revenue Service (IRS) has estimated that taxpayers do not voluntarily pay more than $100 billion annually of taxes due on income from legal sources.1 While such “tax gap” estimate is necessarily imprecise, it indicates significant noncompliance and the challenge that IRS faces in finding ways to reduce the tax gap. When some taxpayers do not pay all the taxes they owe, that part of the burden of funding approved government programs shifts to taxpayers who fully comply. Thus, maintaining high levels of compliance and reducing the tax gap are important for equity reasons. However, it would be unrealistic to assume that our tax system, or any tax system, can achieve 100-percent compliance and thus eliminate the tax gap. My statement covers four points which are based on our previous reports and ongoing work. These points are: • First, IRS’ data suggest that U.S. taxpayers voluntarily pay about 83 percent of the income taxes they owe and ultimately pay about 87 percent after IRS enforcement programs.
    [Show full text]
  • Publication 3415 (Rev. 6-2021) Catalog Number 28110R Department of the Treasury Internal Revenue Service ETAAC MEMBERS
    Electronic Tax Administration Advisory Committee ANNUAL REPORT TO CONGRESS June 2021 Publication 3415 (Rev. 6-2021) Catalog Number 28110R Department of the Treasury Internal Revenue Service www.irs.gov ETAAC MEMBERS The Chair would like to recognize this year's IRS Electronic Tax Administration Advisory Committee (ETAAC) members. Due to the COVID pandemic, the committee only met virtually. Despite not meeting in person, the committee became a virtual team and spent countless hours researching, discussing, and developing the report's recommendations. Dmitri Alexeev Jared Ballew Luanne Brown Latryna Carlton Daniel Eubanks Larry Gray Jenine Hallings Eric Inkrott Courtney Kay-Decker (Vice-Chair) John Kreger Carlos Lopez Laura Macca Julie Magee Sherice McCarthy-Hill Andrew Phillips Lynnette T. Riley Cynthia Rowley Gene Salo (Chair) Timur Taluy Matthew Vickers Lindsey West Biographies of the Committee members are set forth in Appendix C. The Committee members also recognize and thank the IRS staff and leadership for their assistance in this report's development. We appreciate the amount of time spent and their responsiveness to numerous meetings and data requests. The Committee acknowledges the difficulties that the IRS is encountering during the COVID pandemic. 1 HOW TO READ THIS REPORT ETAAC organized this report to provide brief critical insights through a high-level overview and deeper context in our full-length analysis. ETAAC organized this report into three sections that are consistent with our charter. • Recommendations for Congressional consideration • Recommendations for the IRS focused on Electronic filing • Recommendations for the IRS focused on Security For a high-level overview, review the • Letter from the Chair and Vice-Chair • Summary List of ETAAC 2021 Recommendations To gain a deeper context for our 2021 recommendations, review the • Current Environment for Electronic Tax Administration • About the IRS Security Summit • Detailed Support for ETAAC 2021 Recommendations Finally, review the entire report to get the full context and analysis.
    [Show full text]
  • Understanding NH Property Taxes the OFFICIAL NEW HAMPSHIRE ASSESSING REFERENCE MANUAL
    Understanding NH Property Taxes THE OFFICIAL NEW HAMPSHIRE ASSESSING REFERENCE MANUAL Reference Manual for Selectmen, Assessors, and Taxpayers ASSESSING STANDARDS BOARD Preface This publication is a product of an Assessing Standards Board subcommittee, originally authorized by the Assessing Standards Board (ASB) and its founding Chairperson Representative Betsey Patten. Our charge was to create a manual that would be useful to the taxpayers and selectmen of New Hampshire. Each chapter is intended to be somewhat “freestanding” in order to make the manual user friendly. This accounts for a certain amount of repetition of topics and terminology. Additional copies of the manual can be purchased in hardcopy or CD version for a fee by calling the New Hampshire Department of Revenue at (603) 230-5950 or downloading and printing at home the most recent version from the department website: www.revenue.nh.gov/munc_prop/assessing-board/index.htm. This original project was a major undertaking that took over a year to research, write and edit. The 2013 edition is the manual’s first update since 2008. This manual breaks no new academic ground in property taxation. Rather, it serves as an approachable reference tool geared to assist with the inherently complex task of property tax assessing. Along with the text, there is a substantial CD appendix attached for readers wishing to delve more deeply into a topic. Users of this manual are encouraged to visit the various web links mentioned in the text, as well as the NH Department of Revenue Administration’s website. These links are made available to enhance your understanding of New Hampshire’s property tax system.
    [Show full text]
  • Measuring Tax Transaction Costs in Small and Medium Enterprises
    13-61437 MEASURING TAX TRANSACTION COSTS IN SMALL AND MEDIUM ENTERPRISES ENTERPRISES MEDIUM AND SMALL IN COSTS TRANSACTION TAX MEASURING UNITED NATIONS MEASURING TAX TRANSACTION COSTS IN SMALL AND MEDIUM ENTERPRISES asdf United Nations New York, 2014 CIAT Copyright © United Nations 2014 All rights reserved Preface A favourable business climate is an important factor in a country’s eco- nomic prosperity: making things easier for companies to meet their obligations, including their tax obligations, promotes competitiveness and contributes to growth. If an entrepreneur has to comply with numerous bureaucratic procedures to register as a taxpayer, as well as declare and pay the vari- ous taxes established in the tax regulations, those circumstances may entail redundancies, delays and additional costs, and trigger unnec- essarily high transaction costs. In addition to paying taxes, business owners incur an opportunity cost for the time spent on complying with administrative procedures. This may also lead to the emergence of intermediaries who handle the paperwork, thus making it more costly to open and run a business. The complicated procedures and excessive costs may force some business people to give up and abandon their efforts; others choose to continue without subjecting themselves to all the required obligations. Indeed, many end up operating their business in the informal sector. In the event, such businesses, in trying to pass unno- ticed by the authorities, significantly constrain their own potential for growth and job creation. Informality not only creates uncertainty for businesses and workers, but it also deprives them of access to govern- ment support and to the financial sector in general.
    [Show full text]
  • AMERICANS for TAX FAIRNESS SELECTED NEWS STORIES and COMMENTARY May 1, 2014 – April 30, 2015
    AMERICANS FOR TAX FAIRNESS SELECTED NEWS STORIES AND COMMENTARY May 1, 2014 – April 30, 2015 Media clips included in this report were generated from activities sponsored by ATF, primarily at the national level, as funding for state groups ended in March 2014. A press clip is included that either in whole or in large part was generated by work by ATF and its communications consultants. Included are news stories, op-eds, editorials, opinion columns and blog posts. NATIONAL MEDIA 27 Blog: Opponents: Estate tax repeal would only benefit the wealthy -- FarmWorld.com 27 Column: The Death Tax Deception -- Bloomberg View 27 Column: Fix The Tax Code Friday: Should We Repeal The Federal Estate Tax? -- Forbes 27 How the government taxes rich dead people, explained -- Vox 28 Blog: Congress Might Repeal the Estate Tax, But Here's What They Could Do Instead -- Attn.com 28 In defense of Walmart: Why corporations shouldn't be responsible for preventing poverty -- The Week 29 Column: The Republican Recipe for Widening Inequality -- The New York Times 29 Op-Ed: House GOP Votes to Take Food From the Mouths of Hungry Children to Give Huge Tax Break to Children of Multi-Millionaires -- Really? -- Huffington Post 30 Blog: Walmart Heir Does Not Deserve Assets It Would Take a Worker a Million Years to Earn -- Truth-Out 30 Op-Ed: Ben & Jerry: We don't need this stupid tax cut -- USA TODAY 31 Op-Ed: Undermining the American dream -- The Hill 32 Editorial: Repealing estate tax would reward 0.2%: Our view -- USA TODAY 32 House Votes 240-179 To Repeal Estate Tax
    [Show full text]